GREECE DEBT CRISIS - Greek Restaurant Owners Angry over VAT Hike from 13% to 23% Proposals

 
A settlement proposal sent to creditors has been published by the Greek government and includes reforms in pension and value-added tax (VAT) system. The proposal raises restaurant VAT from 13 percent to 23 percent and reduces the minimum tax rates for drugs, books and theatre, from 6.5 percent to 6 percent.

the Asian market reaction to the Greek referendum - which largely saw falls across the board but with limited losses.

China is the exception - it saw a boost on open this morning - but that is attributed to the enormous and unprecedented government measures implemented over the weekend to try and stop a market crash. Greek voters have decisively rejected the terms of an international bailout. The final result in the referendum, published by the interior ministry, was 61.3% "No", against 38.7% who voted "Yes".

Greece's governing Syriza party had campaigned for a "No", saying the bailout terms were humiliating. Their opponents warned that this could see Greece ejected from the eurozone, and a summit of eurozone heads of state has now been called for Tuesday. Greek Prime Minister Alexis Tsipras said late on Sunday that Greeks had voted for a "Europe of solidarity and democracy". Sunday’s referendum but heightened the financial crisis that could force Greece out of the euro zone, shattering the continent’s most ambitious integration project. Still, a Grexit won’t happen tomorrow and there will be further uncertainty, volatility and delay in store. First, Angela Merkel and Francois Hollande

Greek banks are preparing contingency plans for a possible “bail-in” of depositors amid fears the country is heading for financial collapse, bankers and businesspeople with knowledge of the measures said on Friday haircut of at least 30 per cent on deposits above €8,000,

Greek bail-in could resemble the rescue plan agreed by Cyprus in 2013, when customers’ funds were seized uninsured deposits over €100,000 Depositors can withdraw only €60 a day from bank ATM cash machines, while requests to transfer funds abroad Greek central bank.

Athens bankers said the country had only enough cash to keep ATMs supplied until the middle of next week. ECB’s decision this week not to increase Greece’s allocation of emergency liquidity assistance after the bailout programme ended on June 30. It’s crunch time for Greece as IMF debt looms and bailout ends.

Greece has stockpiled enough reserves of fuel and pharmaceutical supplies to withstand a long siege, and has set aside emergency funding to cover all the country’s vitally-needed food imports. global VAT "tax refund" tax "greek restaurant" restaurant food athens vote greece athens bank "bank account" banking supermarket cash "food storage" "emergency supplies" savings "savings account" insurance deposit greek asset investment debt europe "european union" unemployed job poverty poor collapse 2015 2016 loan funds emergency ATM "holiday money

hyperinflation environment developing destruction of the middle class major collapses in the bond and stock markets and possible sudden deflation (primarily of assets), followed by dramatic inflation, if not hyperinflation (primarily of commodities), followed by a crash of several major currencies, particularly the euro and the US dollar. Travel Restrictions. restrictions on foreign travel, including suspension/removal of passports Confiscation of wealth. The EU has instituted the confiscation of bank accounts, assets, such as precious metals and real estate Food Shortages. Riots. These will likely happen spontaneously due to the above conditions control of the masses. Martial Law. The US has already prepared for this, with the passing of the 2012 National Defense Authorization Act (NDAA) long-term food supplies, barterable goods, monetary goods, self defense armaments and having a well thought out preparedness plan BRICS germany Feds ‘lose’ audits for Fort Knox Gold Under the Bundesbank’s new gold storage





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